Bank of N.T. Butterfield & Son (NYSE:NTB) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) released its earnings results on Tuesday. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09, FiscalAI reports. The company had revenue of $162.24 million for the quarter, compared to analysts’ expectations of $160.90 million. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%.

Bank of N.T. Butterfield & Son Trading Up 0.4%

Shares of NYSE:NTB traded up $0.21 during midday trading on Tuesday, reaching $60.16. 152,395 shares of the company were exchanged, compared to its average volume of 173,730. The stock has a market cap of $2.52 billion, a PE ratio of 10.57 and a beta of 0.55. The business’s fifty day moving average is $59.21 and its two-hundred day moving average is $56.46. Bank of N.T. Butterfield & Son has a one year low of $41.71 and a one year high of $64.17.

Analysts Set New Price Targets

A number of equities research analysts have commented on NTB shares. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, September 29th. Keefe, Bruyette & Woods boosted their price objective on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price objective on Bank of N.T. Butterfield & Son from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.50.

Insider Buying and Selling

In other Bank of N.T. Butterfield & Son news, insider Tara Hidalgo sold 18,587 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $61.27, for a total value of $1,138,825.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Saunders sold 18,118 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $61.33, for a total transaction of $1,111,176.94. The SEC filing for this sale provides additional information. Insiders sold a total of 295,808 shares of company stock worth $18,154,010 in the last 90 days. 1.19% of the stock is owned by company insiders.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a full-service bank headquartered in Hamilton, Bermuda. Founded in 1858, the company provides banking, wealth management and fiduciary services to individuals, businesses, institutions and international clients.

Butterfield’s banking activities include personal and commercial deposit accounts, residential and commercial lending, credit and debit cards, cash management, foreign exchange and other financial services.